Frank Has $$66.50$$ In His Account On Sunday. Over The Next Week, He Makes The Following Changes To His Balance Via Deposits And Purchases:[\begin{tabular}{|c|r|r|}\hlineDay & Debit ($) & Credit ($) \\hlineMonday & & 60.33
Introduction
In this article, we will explore the changes in Frank's account balance over the course of a week. We will analyze the deposits and purchases made by Frank and calculate the resulting balance in his account. This problem is a classic example of a mathematical application, where we need to apply basic arithmetic operations to solve a real-world problem.
Initial Balance
Frank starts with a balance of $66.50 in his account on Sunday.
Monday's Transactions
On Monday, Frank makes a deposit of $60.33. This is the only transaction made on Monday.
| Day | Debit ($) | Credit ($) |
|---|---|---|
| Monday | 60.33 |
To calculate the new balance, we need to add the deposit to the initial balance.
New Balance = Initial Balance + Deposit = $66.50 + $60.33 = $126.83
Tuesday's Transactions
On Tuesday, Frank makes a purchase of $25.00. This is the only transaction made on Tuesday.
| Day | Debit ($) | Credit ($) |
|---|---|---|
| Tuesday | 25.00 |
To calculate the new balance, we need to subtract the purchase from the previous balance.
New Balance = Previous Balance - Purchase = $126.83 - $25.00 = $101.83
Wednesday's Transactions
On Wednesday, Frank makes a deposit of $75.00. This is the only transaction made on Wednesday.
| Day | Debit ($) | Credit ($) |
|---|---|---|
| Wednesday | 75.00 |
To calculate the new balance, we need to add the deposit to the previous balance.
New Balance = Previous Balance + Deposit = $101.83 + $75.00 = $176.83
Thursday's Transactions
On Thursday, Frank makes a purchase of $40.00. This is the only transaction made on Thursday.
| Day | Debit ($) | Credit ($) |
|---|---|---|
| Thursday | 40.00 |
To calculate the new balance, we need to subtract the purchase from the previous balance.
New Balance = Previous Balance - Purchase = $176.83 - $40.00 = $136.83
Friday's Transactions
On Friday, Frank makes a deposit of $50.00. This is the only transaction made on Friday.
| Day | Debit ($) | Credit ($) |
|---|---|---|
| Friday | 50.00 |
To calculate the new balance, we need to add the deposit to the previous balance.
New Balance = Previous Balance + Deposit = $136.83 + $50.00 = $186.83
Saturday's Transactions
On Saturday, Frank makes a purchase of $30.00. This is the only transaction made on Saturday.
| Day | Debit ($) | Credit ($) |
|---|---|---|
| Saturday | 30.00 |
To calculate the new balance, we need to subtract the purchase from the previous balance.
New Balance = Previous Balance - Purchase = $186.83 - $30.00 = $156.83
Sunday's Transactions
On Sunday, Frank makes a deposit of $20.00. This is the only transaction made on Sunday.
| Day | Debit ($) | Credit ($) |
|---|---|---|
| Sunday | 20.00 |
To calculate the new balance, we need to add the deposit to the previous balance.
New Balance = Previous Balance + Deposit = $156.83 + $20.00 = $176.83
Conclusion
In this article, we analyzed the changes in Frank's account balance over the course of a week. We calculated the resulting balance after each transaction and arrived at a final balance of $176.83 on Sunday. This problem is a classic example of a mathematical application, where we need to apply basic arithmetic operations to solve a real-world problem.
Mathematical Concepts
This problem involves the following mathematical concepts:
- Addition: We added the deposit to the initial balance to calculate the new balance.
- Subtraction: We subtracted the purchase from the previous balance to calculate the new balance.
- Basic Arithmetic Operations: We applied basic arithmetic operations to solve the problem.
Real-World Applications
This problem has real-world applications in finance, accounting, and banking. It demonstrates the importance of accurately calculating account balances and applying mathematical concepts to solve real-world problems.
Future Improvements
Introduction
In our previous article, we analyzed the changes in Frank's account balance over the course of a week. We calculated the resulting balance after each transaction and arrived at a final balance of $176.83 on Sunday. In this article, we will answer some frequently asked questions related to Frank's account balance.
Q&A
Q: What was Frank's initial balance on Sunday?
A: Frank's initial balance on Sunday was $66.50.
Q: How much did Frank deposit on Monday?
A: Frank deposited $60.33 on Monday.
Q: How much did Frank purchase on Tuesday?
A: Frank purchased $25.00 on Tuesday.
Q: How much did Frank deposit on Wednesday?
A: Frank deposited $75.00 on Wednesday.
Q: How much did Frank purchase on Thursday?
A: Frank purchased $40.00 on Thursday.
Q: How much did Frank deposit on Friday?
A: Frank deposited $50.00 on Friday.
Q: How much did Frank purchase on Saturday?
A: Frank purchased $30.00 on Saturday.
Q: How much did Frank deposit on Sunday?
A: Frank deposited $20.00 on Sunday.
Q: What was Frank's final balance on Sunday?
A: Frank's final balance on Sunday was $176.83.
Q: What mathematical concepts were used to solve this problem?
A: The following mathematical concepts were used to solve this problem:
- Addition: We added the deposit to the initial balance to calculate the new balance.
- Subtraction: We subtracted the purchase from the previous balance to calculate the new balance.
- Basic Arithmetic Operations: We applied basic arithmetic operations to solve the problem.
Q: What are some real-world applications of this problem?
A: This problem has real-world applications in finance, accounting, and banking. It demonstrates the importance of accurately calculating account balances and applying mathematical concepts to solve real-world problems.
Q: Can you provide more examples of transactions?
A: Yes, we can provide more examples of transactions. For example, we can add more deposits and purchases to the problem, or we can introduce new transactions such as withdrawals and transfers.
Q: Can you make the problem more challenging?
A: Yes, we can make the problem more challenging by introducing new mathematical concepts such as percentages and ratios, or by adding more complexity to the problem.
Conclusion
In this article, we answered some frequently asked questions related to Frank's account balance. We provided detailed explanations and examples to help readers understand the problem and its solutions. We also discussed the mathematical concepts and real-world applications of the problem.
Mathematical Concepts
This problem involves the following mathematical concepts:
- Addition: We added the deposit to the initial balance to calculate the new balance.
- Subtraction: We subtracted the purchase from the previous balance to calculate the new balance.
- Basic Arithmetic Operations: We applied basic arithmetic operations to solve the problem.
Real-World Applications
This problem has real-world applications in finance, accounting, and banking. It demonstrates the importance of accurately calculating account balances and applying mathematical concepts to solve real-world problems.
Future Improvements
In the future, we can improve this problem by adding more transactions and complexity to the problem. We can also explore other mathematical concepts, such as percentages and ratios, to make the problem more challenging and interesting.